Rally Time: Red Hat Stock Rebounds More Than 8 Percent After Revised Figures

RALEIGH – Shares in Red Hat rallied more than 8 percent on Tuesday following the Raleigh-based software firm’s release of revised revenue figures.

The slight increase of profits and earnings of 1 cent a share for the most recent quarter triggered a rally that sent Red Hat (Nasdaq: RHAT) to $16.15, up $1.25.

The news also generated a somewhat positive research note from Credit Suisse First Boston.

Link: LocalTechWire